15:16 - 14.11.2024

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November 14, Fineko/abc.az. The banking sector of Azerbaijan will cooperate with international financial institutions (IFIs) to raise additional financing for "green" purposes, ABC.AZ reports, quoting Zakir Nuriyev, the president of the Association of Banks of Azerbaijan (ABA).

"The Central Bank of Azerbaijan approved the green taxonomy yesterday and, at the same time, in our statement we also indicate that together with other participants we’ll carry out all necessary work, including research and promotion, as well as introduction of these standards into our economy and clarifying them to meet the requirements. We also discussed this at an expanded meeting of the Association of Banks.

Starting from today, we’ll work with banks, as well as with international financial institutions, to raise additional finances for these purposes, and we’ll state this and emphasize our readiness to fulfill all requirements. We’ll continue our work in this direction. After all, many aspects are included here, such as clarifying, promoting and educating people.

As you know, this is a new phenomenon for our economy. In other negotiation processes, other participants also discuss various aspects, for example, the issue of "green" bonds and so on. In general, we can say that this is the beginning of a new stage. This is a collective decision taken by all banks together and signed unanimously," he said.